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By Susanne Dwyer

With the downturn long past, housing has gained its lost value—$9 trillion, according to a new report by Zillow. How the recovery has shaken out, however, is telling.

“A decade after the financial crisis, the scars of the housing bust are still with us,” says Aaron Terrazas, senior economist at Zillow. “The gap between the metros with the strongest and weakest housing market recoveries is as wide as it has ever been.”

How much markets have recouped varies wildly, the report reveals. The biggest gains are out West: homes in the San Jose, Calif., metropolitan area are worth $615,100 more than they were 10 years ago; homes in the San Francisco metro area, likewise, are worth $435,700 more. In areas like Indianapolis, however, appreciation has been considerably less. The average falls somewhere in the middle: $55,200.

“The California Bay Area’s housing recovery stands out when compared to other markets that saw similar home value appreciation because it has more than regained all of its lost value,” Terrazas says. “Strong, high-paying job markets and persistently limited inventory sent prices skyrocketing, leading to the Bay Area having the most valuable housing markets in the country.”

How the 10 largest metro areas have recovered:

For more information, please visit www.zillow.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

The post Housing Is Recouping Value Unevenly: Report appeared first on RISMedia.

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From:: Real Estate News

By Susanne Dwyer

Apartment dwellers’ preferences are shifting…toward what owners want, new research shows.

According to the National Multifamily Housing Council (NMHC), an apartment industry organization, convenience, personalization and smart home technology are high on renters’ wish lists. In the NMHC’s 2018 Consumer Housing Insights Survey, 92 percent of respondents believe convenience and ease are important in a rental. Further necessitating the need are the 63 percent of respondents who say they are busy with a “hectic” life.

Homeowners have similar tastes—in fact, the National Association of REALTORS® (NAR) found that two generations of homeowners are looking for walkability, and Coldwell Banker Real Estate research reveals 32 percent have incorporated smart technology, including smart locks and thermostats.

The ability to customize is also in-demand, according to the NMHC survey. Ninety-four percent believe personalization is significant, and 60 percent believe their home is indicative of who they are.

Seventy-eight percent, meanwhile, are after a rental that can be altered easily to meet their needs, whether in the future or the present. Tellingly, 40 percent expect to remote-work, highlighting interest in office space, or, at the very least, reliable cell reception and internet.

Source: National Multifamily Housing Council (NMHC)

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

The post Automation and Customization: Renter Wishes appeared first on RISMedia.

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From:: Real Estate News

By Beth McGuire

Pam O’Connor Builds a Network, Influences an Industry, and Impacts Lives

Editor’s note: A PDF file version of this article is available here. A digital magazine version of this article is available here, or by clicking on the magazine cover below.

Everyone knows real estate is a “relationship business,” but unfortunately, the phrase is overused and often unsubstantiated. Talk to people who have known Pam O’Connor over the course of her 30-plus years in the real estate and relocation business, however, and they will tell you that she brings the meaning of relationship to a whole new level. When it comes to caring, O’Connor is the real deal.

“They say that what makes a leader special is their ability to show that they really care,” says John Reinhardt, president and CEO of Brooklyn, N.Y.’s Fillmore Real Estate. “I have to tell you, Pam really cares. There were times in my life when I knew I needed a Pam fix—some straightforward guidance, support and direction. It was likes Mom’s chicken soup…you always seemed to feel better.”

As she prepares to retire from her post as president and CEO of Chicago-based Leading Real Estate Companies of the World® (LeadingRE) on March 31, O’Connor’s professional and personal commitment to the network’s more than 550 global member firms, along with her colleagues at LeadingRE, will be sorely missed and never forgotten. But for O’Connor, it’s all part of her master plan.

“I’ve worked for some time to put the right people in place,” O’Connor explains. “They’re clicking on all cylinders, the company is operating very successfully, and it’s time to pass the baton. LeadingRE has been very, very good to me. I wanted to leave it in a good place, and I believe I’m doing just that.”

That baton will be passed to Paul Boomsma, the successor to the president and CEO role, who has worked closely with O’Connor since 2005 when he came on board for the launch of Luxury Portfolio International®.

“After working for Pam for 13 years, I do feel that I’m now suited to carry on the path that she began,” says Boomsma. “It’s not an easy job; however, she’s worked hard to put a great team in place and started planning for succession a number of years ago. As she said, ‘It is part of the job to prepare for the future.’ We are very excited to celebrate her career and the role she played in making LeadingRE what it has become today.”

And over the years, Boomsma has been afforded a birds-eye view of O’Connor’s expertise as a leader and mentor. “Pam is the master of maintaining relationships and is a wealth of knowledge on all matters of the industry,” he explains. “She is a consummate diplomat, a fantastic communicator and writer, and always goes out of her way to help our members succeed. She has a heart that extends from business to the lives and families of our members, and I think her ‘Culture of Caring and Giving’ is consistent throughout …read more

From:: Finance and Economy

By Beth McGuire

Pam O’Connor Builds a Network, Influences an Industry, and Impacts Lives

Editor’s note: A PDF file version of this article is available here.

Everyone knows real estate is a “relationship business,” but unfortunately, the phrase is overused and often unsubstantiated. Talk to people who have known Pam O’Connor over the course of her 30-plus years in the real estate and relocation business, however, and they will tell you that she brings the meaning of relationship to a whole new level. When it comes to caring, O’Connor is the real deal.

Article follows after digital format.

“They say that what makes a leader special is their ability to show that they really care,” says John Reinhardt, president and CEO of Brooklyn, N.Y.’s Fillmore Real Estate. “I have to tell you, Pam really cares. There were times in my life when I knew I needed a Pam fix—some straightforward guidance, support and direction. It was likes Mom’s chicken soup…you always seemed to feel better.”

As she prepares to retire from her post as president and CEO of Chicago-based Leading Real Estate Companies of the World® (LeadingRE) on March 31, O’Connor’s professional and personal commitment to the network’s more than 550 global member firms, along with her colleagues at LeadingRE, will be sorely missed and never forgotten. But for O’Connor, it’s all part of her master plan.

“I’ve worked for some time to put the right people in place,” O’Connor explains. “They’re clicking on all cylinders, the company is operating very successfully, and it’s time to pass the baton. LeadingRE has been very, very good to me. I wanted to leave it in a good place, and I believe I’m doing just that.”

That baton will be passed to Paul Boomsma, the successor to the president and CEO role, who has worked closely with O’Connor since 2005 when he came on board for the launch of Luxury Portfolio International®.

“After working for Pam for 13 years, I do feel that I’m now suited to carry on the path that she began,” says Boomsma. “It’s not an easy job; however, she’s worked hard to put a great team in place and started planning for succession a number of years ago. As she said, ‘It is part of the job to prepare for the future.’ We are very excited to celebrate her career and the role she played in making LeadingRE what it has become today.”

And over the years, Boomsma has been afforded a birds-eye view of O’Connor’s expertise as a leader and mentor. “Pam is the master of maintaining relationships and is a wealth of knowledge on all matters of the industry,” he explains. “She is a consummate diplomat, a fantastic communicator and writer, and always goes out of her way to help our members succeed. She has a heart that extends from business to the lives and families of our members, and I think her ‘Culture of Caring and Giving’ is consistent throughout our staff and in the actions of our members, as well.”

Her tenure at LeadingRE represented …read more

From:: Real Estate News